Swiss National Bank Sells 16,895 Shares of Generac Holdings Inc. (NYSE:GNRC)

Posted by Defense World Staff on May 12th, 2023

Swiss National Bank lessened its stake in Generac Holdings Inc. (NYSE:GNRC – Get Rating) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 259,500 shares of the technology company’s stock after selling 16,895 shares during the period. Swiss National Bank owned about 0.41% of Generac worth $26,121,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust lifted its stake in Generac by 1,066.7% during the first quarter. Parkside Financial Bank & Trust now owns 140 shares of the technology company’s stock worth $42,000 after purchasing an additional 128 shares during the period. Exos TFP Holdings LLC acquired a new stake in shares of Generac during the third quarter worth approximately $30,000. Ameliora Wealth Management Ltd. acquired a new stake in shares of Generac during the third quarter worth approximately $29,000. MinichMacGregor Wealth Management LLC acquired a new stake in shares of Generac during the fourth quarter worth approximately $27,000. Finally, Resources Management Corp CT ADV increased its holdings in shares of Generac by 47.7% during the third quarter. Resources Management Corp CT ADV now owns 288 shares of the technology company’s stock worth $51,000 after buying an additional 93 shares in the last quarter. Institutional investors own 88.71% of the company’s stock.

Generac Trading Down 0.8 %

GNRC opened at $111.96 on Friday. The stock has a market capitalization of $6.99 billion, a P/E ratio of 28.56, a P/E/G ratio of 1.90 and a beta of 1.16. Generac Holdings Inc. has a 12 month low of $86.29 and a 12 month high of $299.85. The firm’s fifty day simple moving average is $108.61 and its 200 day simple moving average is $108.64. The company has a current ratio of 2.40, a quick ratio of 0.82 and a debt-to-equity ratio of 0.65.

Generac (NYSE:GNRC – Get Rating) last posted its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.52 by $0.11. The business had revenue of $887.90 million for the quarter, compared to analysts’ expectations of $850.07 million. Generac had a net margin of 6.91% and a return on equity of 19.63%. The firm’s revenue was down 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.09 EPS. As a group, research analysts anticipate that Generac Holdings Inc. will post 6 EPS for the current fiscal year.

Insider Activity at Generac

In related news, CEO Aaron Jagdfeld sold 45,207 shares of the business’s stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $119.37, for a total value of $5,396,359.59. Following the sale, the chief executive officer now directly owns 615,269 shares of the company’s stock, valued at approximately $73,444,660.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 55,207 shares of company stock valued at $6,454,560. 2.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on GNRC shares. Scotiabank started coverage on shares of Generac in a report on Thursday, March 2nd. They set a “sector perform” rating and a $165.00 price objective for the company. Truist Financial dropped their price objective on shares of Generac from $145.00 to $120.00 in a report on Monday, May 1st. Oppenheimer raised their price objective on shares of Generac from $137.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, March 3rd. Janney Montgomery Scott lowered shares of Generac from a “buy” rating to a “neutral” rating in a report on Tuesday, February 21st. Finally, Robert W. Baird raised their price target on shares of Generac from $119.00 to $136.00 and gave the company a “neutral” rating in a report on Thursday, February 16th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $180.17.

Generac Profile

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Generac Holdings, Inc engages in the business of designing and manufacturing energy technology solutions. It operates under the Domestic and International segments. The Domestic segment includes the legacy Generac business and the acquisitions that are based in the United States and Canada. The International segment focuses on Generac business’ Latin American export operations.